State College: First Time Home Buyer Program
For first-time home buyers in State College, the First-Time House Buyer (FTHB) program offers mortgage and closing-cost help to both moderate and low-income families, resulting in a home that is the same or less expensive than your current rent.
Qualifying homebuyers are given free education and budget advice
to help them throughout the home-buying experience.
The State College Community Land Trust (CLT) and the Temporary
Housing Foundation, Inc. (HTI) are two other non-profit
organizations providing State College home-buying options.
The SCCLT promotes house ownership by "splitting" the cost of a home
into two or more payments.
How much is the grant?
Downpayment and Closing-Cost Assistance - The
Centre County Housing Trust Fund will be utilized to help the home
buyer with the down payment and closing expenses. A maximum of
$10,000 will be provided, or 10% of the purchase price (whichever is
less).
Note: The loan will become due when the house is resold, refinanced
for more than the original purchase price, ceases to be Borrower's
full-time, permanent residence, or the mortgage is paid in full.
Brochure
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